15 October 2010
I work in a manufacturing company. Diesel, grease and other lubricants are being used in our company. whether we can take vat input credit on diesel and grease and other lubricants?? kindly mention the relevant provision also.
17 October 2010
You can take input tax credit for lubricants u/s 13(4) of Punjab VAT Act 2005 if it is used for captive generation of electric power.
But no input tax credit is available on purchase of diesel used for captive generation of electric power as it has been held by the Punjab and Haryana High court is the latest case of State of Punjab V Malwa Cotton Spinning Mills Ltd
For full judgement can refer at the following link: http://amitbajajadvocate.blogspot.com
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